Online Mortgage
APPLICATION
Talk with a mortgage advisor
Call 1.888.876.2328
 
Already have an
Advancial Mortgage?
Online Mortgage
APPLICATION
Talk with a mortgage advisor
Call 1.888.876.2328
 
Already have an
Advancial Mortgage?


 
 

|

 

 
 

|

 

Have questions about mortgages? Here are responses to some of the most common questions we hear. If you don’t find the answer you are looking for, please contact us at 1.888.876.2328.

Anyone can apply for a mortgage with Advancial Mortgage; you do not have to be a member beforehand. Should you decide to finance your mortgage with us, your Advancial Mortgage Loan Officer will help you complete the documents to become an Advancial member.
Applying for a mortgage loan before you find a home may be the best thing you could do! When you apply for your mortgage before you have a property to purchase we will issue a pre-approval letter to assure real estate brokers and sellers that you are a qualified buyer. When you find the perfect home, simply call your Advancial Mortgage Loan Officer to complete your application. You’ll then have the opportunity to lick in our great rates and we’ll complete the processing of your loan.
No. Advancial Mortgage provides mortgages in all 50 states.
Different guidelines are established for non-citizens. Each loan type varies, depending on what documentation you can provide will determine which loan type will fit your scenario. It's best to contact an Advancial Mortgage Loan Officer to discuss your options.
There are mortgage programs available for virtually every situation. It is best to call an Advancial Mortgage Loan Officer for more information.
Up to 97% financing is available. Higher down payments may be required based on your specific situation.
In all mortgage applications, Advancial Mortgage will ask for information regarding your employment, income, assets, debts and the prospective property you intend to purchase. Other information may be needed depending on your situation. For more information, please refer to our Application Checklist.
Unlike many lenders, Advancial Mortgage does not charge an application fee when you apply with us.
Our goal is to have your loan ready for closing as soon as possible. Generally we can close your loan within 30 – 45 days. However, if there are delays in submitting the required documentation, or there is a problem with your title work or appraisal, the process may take longer.
No. You should contact your Advancial Mortgage Loan Officer to lock-in your rate once a property has been identified.
An Advancial Mortgage Loan Officer will provide you with your rate lock options once you have submitted your application. Typically rate locks are for a period of 60 days.
Closing costs cover all of the fees and expenses associated with the loan transaction. Closing costs may include fees for an appraisal, title insurance, survey and points. Closing costs vary depending on the loan product and the fees that are customary in your area. You will receive a good faith estimate of your closing costs in advance of your closing date for your review.
Yes, on refinanced mortgages only, provided you have the equity in the value of the property.
The interest rate is the cost to borrow the money disbursed in the loan. The APR is the total cost of the loan over its life, including costs, fees and points.
Points are a one-time fee that the borrower pays to lower the interest rate. One point equals one percent of your loan amount.
This is the principal, interest, taxes and insurance payment on your mortgage.
Mortgage insurance, also known as PMI, is insurance that protects the lender from losses when a mortgage with a low down payment defaults. A low down payment is usually defined as less than 20% of the purchase price or appraised value, whichever is less.
If you make a down payment less than 20% of the purchase price, you will be required to have mortgage insurance. Advancial Mortgage works with several companies that can provide assistance in obtaining mortgage insurance.
Advancial Mortgage requires an appraisal on most transactions. If the appraiser recommends repairs or if repairs are mentioned in the contract, Advancial will require that those repairs be done before closing. The appraiser then will perform a final inspection to assure that the repairs were completed.
Advancial Mortgage will extend a mortgage based on the appraised value of the home or the purchase price, whichever is less.
As soon as we receive your appraisal, we will update your loan with the estimated value of the home. As a standard practice we will provide a copy of your appraisal at closing.
To obtain a copy of your credit report visit www.annualcreditreport.com or call 1.877.322.8228. The law allows you to order one free copy of your report from each of the nationwide consumer reporting companies every 12 months. Reviewing your credit report prior to applying for a mortgage will give you the opportunity to identify and resolve any credit issues or discrepancies.
Advancial Mortgage processes, closes and funds your loan under Advancial Federal Credit Union. In some cases, the servicing, or the collecting of payments, of your loan may be sold to another lender. This is done to allow us to obtain the best possible rate for our members. This in no way changes any terms or conditions of your loan. Once your loan closes, the terms and conditions of your loan cannot change by law.

Have questions about mortgages? Here are responses to some of the most common questions we hear. If you don’t find the answer you are looking for, please contact us at 1.888.876.2328.

Anyone can apply for a mortgage with Advancial Mortgage; you do not have to be a member beforehand. Should you decide to finance your mortgage with us, your Advancial Mortgage Loan Officer will help you complete the documents to become an Advancial member.
Applying for a mortgage loan before you find a home may be the best thing you could do! When you apply for your mortgage before you have a property to purchase we will issue a pre-approval letter to assure real estate brokers and sellers that you are a qualified buyer. When you find the perfect home, simply call your Advancial Mortgage Loan Officer to complete your application. You’ll then have the opportunity to lick in our great rates and we’ll complete the processing of your loan.
No. Advancial Mortgage provides mortgages in all 50 states.
Different guidelines are established for non-citizens. Each loan type varies, depending on what documentation you can provide will determine which loan type will fit your scenario. It's best to contact an Advancial Mortgage Loan Officer to discuss your options.
There are mortgage programs available for virtually every situation. It is best to call an Advancial Mortgage Loan Officer for more information.
Up to 97% financing is available. Higher down payments may be required based on your specific situation.
In all mortgage applications, Advancial Mortgage will ask for information regarding your employment, income, assets, debts and the prospective property you intend to purchase. Other information may be needed depending on your situation. For more information, please refer to our Application Checklist.
Unlike many lenders, Advancial Mortgage does not charge an application fee when you apply with us.
Our goal is to have your loan ready for closing as soon as possible. Generally we can close your loan within 30 – 45 days. However, if there are delays in submitting the required documentation, or there is a problem with your title work or appraisal, the process may take longer.
No. You should contact your Advancial Mortgage Loan Officer to lock-in your rate once a property has been identified.
An Advancial Mortgage Loan Officer will provide you with your rate lock options once you have submitted your application. Typically rate locks are for a period of 60 days.
Closing costs cover all of the fees and expenses associated with the loan transaction. Closing costs may include fees for an appraisal, title insurance, survey and points. Closing costs vary depending on the loan product and the fees that are customary in your area. You will receive a good faith estimate of your closing costs in advance of your closing date for your review.
Yes, on refinanced mortgages only, provided you have the equity in the value of the property.
The interest rate is the cost to borrow the money disbursed in the loan. The APR is the total cost of the loan over its life, including costs, fees and points.
Points are a one-time fee that the borrower pays to lower the interest rate. One point equals one percent of your loan amount.
This is the principal, interest, taxes and insurance payment on your mortgage.
Mortgage insurance, also known as PMI, is insurance that protects the lender from losses when a mortgage with a low down payment defaults. A low down payment is usually defined as less than 20% of the purchase price or appraised value, whichever is less.
If you make a down payment less than 20% of the purchase price, you will be required to have mortgage insurance. Advancial Mortgage works with several companies that can provide assistance in obtaining mortgage insurance.
Advancial Mortgage requires an appraisal on most transactions. If the appraiser recommends repairs or if repairs are mentioned in the contract, Advancial will require that those repairs be done before closing. The appraiser then will perform a final inspection to assure that the repairs were completed.
Advancial Mortgage will extend a mortgage based on the appraised value of the home or the purchase price, whichever is less.
As soon as we receive your appraisal, we will update your loan with the estimated value of the home. As a standard practice we will provide a copy of your appraisal at closing.
To obtain a copy of your credit report visit www.annualcreditreport.com or call 1.877.322.8228. The law allows you to order one free copy of your report from each of the nationwide consumer reporting companies every 12 months. Reviewing your credit report prior to applying for a mortgage will give you the opportunity to identify and resolve any credit issues or discrepancies.
Advancial Mortgage processes, closes and funds your loan under Advancial Federal Credit Union. In some cases, the servicing, or the collecting of payments, of your loan may be sold to another lender. This is done to allow us to obtain the best possible rate for our members. This in no way changes any terms or conditions of your loan. Once your loan closes, the terms and conditions of your loan cannot change by law.